Man-Duen takes out a 3 year mortgage for $1,100,000 at an interest rate of i₍₅₂₎ = 7.000%. The amortization period is 30 years and he will make bi-weekly payments. After 1 year the rate changes to i₍₅₂₎ = 7.250%. What is the outstanding balance at the end of the term (3 years) of the mortgage (taking into account the change in rates!)?